DISCUSSION TAKES PLACE ON ECONOMIC DEPENDENCE OF MONGOLIA ON MINERALS

Ulaanbaatar /MONTSAME/. An international conference on “Economic Dependence of Mongolia on Minerals: Challenges and Suggestions” is taking place at Tuushin Hotel.

In 2016, the Japan International Cooperation Agency (JICA) launched a policy-making and proficiency-building project in Mongolia aimed at creating terms for sustainable economic development free from the fluctuations and dependence of the mining industry.

The Economic Research Institute, JICA Mongolia Office, and the National University of Mongolia are co-organizing today’s conference on the research conducted within the framework of the project, efficient management of mining income, and the impact of direct foreign investment and agreements.

The Senior Advisor for Natural Resources of JICA, Dr. Yoshitaka Hosoi, was a keynote speaker and gave his speech on “Technical cooperation between Mongolia and Japan in the mining field,” and the Deputy Minister of Mining and Heavy Industry, O. Batnairamdal, led the discussion on “Establishing a Development Fund in Mongolia” during the breakout session.

The meeting emphasized that the Wealth and Development Funds need to be established in Mongolia following the law and ensuring rights to create terms for sustainable economic development free from the fluctuations and dependence of the mining industry.